Following a particularly difficult year for all nations and individuals coping with the pandemic, it is clear that the B word is adding further concern to British nationals, when considering either selling or buying a property in France. Unconfirmed changes to periods of access to second homes, implications of tax on second homes and a general lack of clarity in general is causing hesitancy in the property market for this sector of buyers and sellers.
Let us take the pandemic to start with: properties are still being bought and sold and the dynamics of the market have been affected, with increased interest in country properties, those within commuter distance of towns, or town properties with outside space. Internet access is key to allow buyers to work from home and an increased emphasis is on the presentation of the property online, with full details, files of images, diagnostic reports, location details and local services being made available for any potential buyers in advance of any viewing - essential when much of the searching has to be done online, eliminating the need for unnecessary viewings.
For the big B concerning British nationals, yes of course the lack of decision making, clarity, precision and detail when it comes to changes afoot are causing concern and there has been a recent downturn in UK nationals deciding to purchase. But, let us consider the following:
Firstly, buyers from the UK are still showing good interest in purchasing in France and the number hesitating will diminish over time, once the new rules/laws are clear and the buyers can purchase with clarity and understanding of their situation. There is also an element of thinking which motivates UK nationals to say "These are my plans and regardless of the outcome of the B talks, I am not going to let it affect my decision to buy."
Secondly, buyers have sought to purchase properties across Europe and indeed, the world, since long before the UK joined the EU and will do so again.
Thirdly, from a selling point of view my point number 3 below has raised significance. It isn't all about UK nationals - the market is worldwide and domestic, so don't feel this is not the time to market your property for sale. Far from it!
The above aside, the strategy for marketing your property in Winter time remains unchanged from when I wrote my blog this time last year, so I have simply adapted the points below for your consideration:
Marketing and selling in Winter:
In areas of France which profit from Winter sports, this season is the most productive time for property sales.
However, the majority of France doesn’t have a snowy climate and lifestyle selling points often revolve around a blue sky, sunshine, outdoor life.
The onset of Winter creates an inclination to hibernate in front of the log fire, ignoring the grey skies and drop in temperature outdoors. It also gives many home sellers the prevailing preconception that the Winter is not a good time to sell.
While it is true to say that there are fewer property hunters during the Winter period, sellers frequently make the mistake of withdrawing from the market altogether, intending to put their property back on sale once Winter is over, thinking they have little, or no chance of selling until Spring is upon us.
This could leave you missing a golden opportunity chance to sell.
Here are some reasons to consider leaving your property on the market during Winter :-
1) Reduced Competition
If you buck the trend and remain on the market at a fair and attractive market price, you put yourself ahead of other sellers who choose not to do so. Your chances of selling remain a reality – not on the market, not selling!
2) Buyers are Serious
We have all come across, or at least heard about, the minority of viewers who have no real intention of buying, but are maybe living a pipe dream, or filling in a rainy day during their Summer holiday by property viewing – time wasters. Well during the Winter months you can almost guarantee that anyone planning a trip to view is a serious buyer - especially this year!
Any estate agent will tell you that viewers planning trips to view between Christmas and New Year, for example, will almost certainly offer on a property.
3) Consider the Wider Market
Property isn’t just sold to UK buyers. International buyers look for a holiday home, or a permanent home in a new country. Many French nationals (and non-French nationals) already living here find themselves in a position where the need to move during the Winter months; change of job, need to change schools, parents needing care, illness, or retirement, just to name a few. If your property isn’t available to them during their period of “need to move”, you may have missed a good selling opportunity.
4) Forward Thinkers
Did you know that one of the highest hit rates for online property searches occurs on New Year’s Eve? Aside from that night in particular, many potential buyers surf the net during Winter months; indeed they have to use the internet to search during the enforced travel restrictions, researching suitable areas for property searches and making provisional lists of properties of interest, in preparation for planning their viewing schedule early Spring, or when allowed. Indeed, some even make a spur of the moment decision to bring forward their viewings, if possible, if they see a property sparking their interest and matching their search criteria. It could be yours!
5) The ‘See it Out of Season’ Strategy
Savvy buyers making a considered investment realise that a property viewed in peak Summer months may not offer the same lifestyle choices during the grey Winter months.
A bustling coastal holiday village may turn out to be closed and uninviting, even feel isolated, in Winter if the vast majority of property holders are second home owners, using their property for Summer vacations. Perhaps not the best place to buy a permanent residence.
Equally, buyers looking for a certain lifestyle need to satisfy themselves that their social lives won’t dry up simply because the sun isn’t shining.
Such buyers may well take the time to visit their chosen areas over a year, or more importantly at the moment, to thoroughly check out information online, to check out suitability in all seasons. A property satisfying their needs during Winter can often be the one they decide to offer on.
6) Price Perception
Everyone likes to feel they have bought with value for money and buyer perception is that they can certainly achieve this by buying a property out of peak season. In reality, any serious buyer will pay a reasonable market rate on a suitable property, regardless of season, but if you are in the position of offering your property for sale at market rate in the winter, leaving yourself some flexibility on price for negotiation, yours could be the one perceived as their value for money choice.
Summary:
Indeed, there are many reasons why you should seriously consider leaving your property on the market during the Winter period and if you do, provided you still take positive steps to present it looking as appealing as possible, despite grey skies and dull rainy days, you will certainly increase your chances of selling. Essentially, the need to provide all available information on the property and area via online communication, must be satisfied now that visiting in person is less prevalent, albeit, hopefully temporarily.
For those all important viewings in person, make the most of every opportunity to attract a buyer – winter outdoor planting, clever indoor lighting, a roaring log fire, scent of fresh coffee brewing, eliminating soggy pet smells and emphasising the positives of your property and the local area, despite the inclement weather, can all help attract an acceptable offer, to get you on the move to the next chapter of your life.